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'Don't know much about the economy...'

From NBC's Mark MurrayIn a spoof of the classic song "What A Wonderful World" ("Don't know much about history..."), the Obama campaign has a new TV ad mocking McCain for once saying that "economics is not something I've understood as well as I should."

Per the campaign, the ad will air on national cable and in battleground states beginning today.

[Youtube:2X9LypdiQFo]

Script:I'm not up on the economyDon't know much about industry.Really can't explain the price of gas,Or what has happened to the middle class.But I know that one and one is two.And if I could be just like youWhat a wonderful world this would be.

McCain spokesman Tucker Bounds responds, "Barack Obama has proposed raising taxes on small businesses and America's working families during an economic downturn. You don't have to 'know much' to understand that Barack Obama's plans to raise taxes will hurt an already struggling economy. And it's particularly revealing that the Obama campaign feels forced to cast flimsy attack ads during his own convention."

Of course, the McCain camp and RNC are running TV ads during Obama's convention. And once again, Obama's tax plan raises taxes only on families that make more than $250,000 a year, and it provides a bigger tax cut than McCain's does to those making less than that amount.